Hanseberg Group
Hanseberg Group
Mining and Trading House from Düsseldorf
Hanseberg Group
Mining and Trading House from Düsseldorf.
Product Portfolio
Product Portfolio
Exemplary Projects
Exemplary Projects
Weekly News
Copper
COPPER SLIPS ON STRONGER USD, PROFIT – TAKING
22.03.2024
Copper prices retreated on firmer USD and as investors locked in profits from previous gain. After short – term weakness and consolidation, copper will experience further gains, especially once Federal Reserves began cutting interest rates. Current gain fuelled by Chinese copper smelters agreed to lower operation rates.
CHINA 2024 REFINED COPPER PRODUCTION WILL GAIN BY 3 PERCENT
22.03.2024
Chinese copper smelters agreed to jointly embark on production cuts at some loss making plants to cope with raw material shortages. The agreement comes as fees to process copper concentrate on the spot market dropped to their lowest in more than a decade.
Battery Metals
SQM TO PASS MINING CONCESSION TO CODELCO IN NEW PARTNERSHIP
21.03.2024
Chile SQM to transfer mining concessions to Codelco as part of new partnership. SQM and Codelco hammered out a preliminary agreement in December align with government mandate to boost state control over lithium industry in Chile. SQM to transfer all assets, contracts, employees and subsidiaries to the JV.
US EXPLORED ADDING MORE COBALT TO DEFENCE STOCKPILES
19.03.2024
US looked into purchasing cobalt for defence stockpiles, could consider purchases in future despite deciding against them in its latest plan. Cobalt prices likely to remain depressed due to slowing sales of EV and new battery chemistries that do not use it. US should move aggressively to secure domestic sources of critical minerals including cobalt.
Gold
GOLD SLIPS AS USD STRENGTHENS, BUT BRACED FOR WEEKLY GAIN
22.03.2024
Gold pricesdropped after peak in previous session as USD strengthened but braced for weekly gain after Federal Reserve expected 3 rate cuts in 2024. Traders are betting on 71 pct interest rate cut in June. Gold prices reached new peak for 5th time as Fed members said they still planned to cut rates by 3⁄4 of a percentage point in 2024, despite recent strong inflation readings.
GOLD ATTRACTS LARGEST WEEKLY INFLOW IN A YEAR
22.03.2024
Investment flows into gold peaked in a year as gold trades at all – time high, causing investors to shift funds from cash equivalents and stocks. Inflows of USD 1.1 billion into gold funds are highest since May 2023. Gold prices all-time highs. As it does not bear interest, gold supported by expectations central banks cut rates this year, lowering yields on other asset classes.
Tantalite
INDIA TO AUCTION JAMMU AND KASHMIR LITHIUM BLOCKS
22.03.2024
Jammu and Kashmir to auction its lithium reserves as part of a third – tranche, according to a government source. The auction will take place again as government received only 2 bids in 1st round. A total of 7 critical mineral blocks are auctioned as composite licence in this 3rd Tranche.
IRON ORE PRICE BRACED FOR WEEKLY GAIN ON PROSPECTS OF IMPROVING CHINA DEMAND
22.03.2024
Iron ore prices mixed but braced for weekly gain on increasing anticipation of increasing demand in China amid indications of improving steel consumption. The iron ore market relatively balanced and keep prices from falling below current levels amid low supply growth and demand from other sectors offsetting fall in real estate sector.